Wall Financial Corporation: Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 11, 2005) - Wall Financial Corporation (TSX:WFC)(the "Company") announced that it will be undertaking a normal course issuer bid (the "Bid") through the facilities of The Toronto Stock Exchange commencing on January 17th, 2005. The Company intends to purchase a maximum of 1,604,593 common shares representing 5% of its issued and outstanding shares and further representing 37.9% of its public float. Currently the Company has 32,091,865 common shares issued and outstanding. The Bid shall terminate no later than January 16th, 2006 subject to it completing such purchases prior thereto.

All common shares acquired pursuant to the Bid shall be purchased through the facilities of The Toronto Stock Exchange (the "Exchange") in accordance with the Rules and Policies of the Exchange. All purchases made pursuant to the Bid shall be paid for in cash at the market price prevailing at the time of each purchase. The broker acting for the Company in respect of its purchases under the Bid is ScotiaMcLeod Inc.

None of the directors, officers or controlling shareholders of the Company (or their respective affiliates or associates) intends to dispose of any common shares of the Company during the period in which the Bid is in effect. Any shares purchased pursuant to the Bid shall be cancelled by the Company.

The Board of Directors of the Company has concluded that the Bid is in the best interests of the Company and its shareholders as, in its view, the shares are undervalued when measured against the assets and liabilities of the Company, its recent financial performance and its future earnings potential. Accordingly, the Board has concluded that the purchase of shares pursuant to the Bid represents a good investment for the Company and its shareholders. The Company most recently undertook a normal course issuer bid which expired on November 2nd, 2004 pursuant to which an aggregate of 267,700 common shares were purchased at an average price of $4.00 per share. Such shares were subsequently cancelled.